It will allow us to carry, for instance, bigger reels of pipes for clients like Wellstream and Duco
and will also mean that more companies will be attracted to the Offshore Technology Park.
International, headquartered in the UK, is a printing blanket manufacturer with facilities in Slough and Swindon, England.
In a statement accompanying the accounts, Duco
said: "The turnover was less than expected and the very low level of profits achieved reflected difficulties experienced in increasing the throughput.
A spokeswoman for Duco
said: "We can confirm that, regrettably, the current economic downturn has forced the Duco
management team to consider redundancies at the Newcastle plant.
The acquisition of Duco
, with its many fine products and services, indeed supports this goal.
Under the supervision of landscape manager, Derek Thompson, a team of four gardeners work at the DUCO
Ltd was recently awarded Subsea UK Company of the Year 2012 and Company of the Year 2012 by NOF Energy.
Malcolm Poulton, DUCO
Ltd's chief financial officer, said: "It is a great honour to receive this award and to welcome the Lord Lieutenant to our premises.
Annette Mullen, training and development coordinator at DUCO
, said: "We have worked with Access Training for quite a while now because we find they recruit the high calibre apprentices we require and provide quality training and
15am: I meet most mornings with DUCO
test services manager, Bill Swaddle.
, based in Walker, Newcastle, makes subsea umbilical systems for the oil and gas industry.
Flexible pipes will be manufactured at Technip's Le Trait facility in France while the umbilicals will be manufactured by one of Technip's UK subsidiaries, Duco
, based in Newcastle.